December 5, 2018 – The Debtors filed an exit facility commitment letter (the “Exit Facility Commitment Letter”) sent by Fortress Credit Corp (“Fortress”) to AFH Franchise Holdings detailing Fortress’s agreement to provide the reorganized Debtors with a senior secured term facility in an aggregate principal amount of $50mn (the “Term Facility”) and a senior secured…

December 5, 2018 – The Court hearing the Mission Coal Company case granted the Debtors’ motion to enter into a asset purchase agreement with the Debtors’ debtor-in-possession (“DIP”) lenders (the “Stalking Horse Purchase Agreement”) as well as approving proposed bidding procedures for the sale of the Debtors’ assets [Docket No. 395].   In the motion…

December 5, 2018 – The Debtors filed an amended Plan of Liquidation [Docket No. 604] and Disclosure Statement [Docket No. 605]. The Disclosure Statement summarizes the Plan as follows, “Holders of Allowed Administrative Expense Claims, Allowed Priority Tax Claims, and Allowed Priority Non-Tax Claims will be paid in full in Cash. Further, in accordance with…

December 4, 2018 – Citing an “extended stay in Chapter 11,” the Debtors requested Court approval to amend their debtor-in-possession (“DIP”) facility to (i) allow for an additional $22 million of DIP financing and (ii) extend the maturity date of the facility through March 31, 2019, [Docket No. 923]. The motion states, “The Debtors filed…

December 4, 2018 – Senior Care Centers and 120 affiliated Debtors (together, “Senior Care”) or the “Company”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 18-33967 [Docket No.1]. The Company, a Dallas-based, skilled nursing and long-term care industry leader in Texas and Louisiana, is…

December 03, 2018 – 1992 MSF International Ltd. and 1992 Tactical Credit Master Fund, L.P. (collectively, the “1992 Funds”) filed an objection to the confirmation of the Debtors’ Plan citing concerns about the classification of its claim with those held by insiders [Docket No. 1376]. The objection explains and said, “The 1992 Funds, each holders…

December 03, 2018 – The Debtors’ Official Committee of Unsecured Creditors (the “Committee”) filed an objection [Docket No. 621] to the Debtors’ Combined Disclosure Statement and Chapter 11 Plan of Liquidation [Docket No. 554].  The objection states, “When the Wind-Down Reserve Amount was agreed to, the Debtors projected that it would be sufficient to not…

November 29, 2017 – Oak Point Partners acquired the remnant assets of Swets Information Services, Inc. Bankruptcy Estate (Swets) in November 2017. On November 21, 2014, Swets filed a voluntary petition under chapter 7 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey, assigned Case No. 14-33744. Thereafter,…

September 10, 2018 – Oak Point Partners acquired the remnant assets of Joseph Walker & Company, Inc. Bankruptcy Estate (Joseph Walker) in October 2018. On March 18, 2010, Joseph Walker filed a voluntary petition under chapter 7 of the Bankruptcy Code in the United States Bankruptcy Court for the District of South Carolina, assigned Case…